How to Buy and Stake LOOKS Token (Metamask + Uniswap)

• Methods to purchase LOOKS token?
• Methods to Stake LOOKS token?
• Methods to purchase LOOKS token with a MetaMask pockets?

Welcome again to a different thrilling put up. On this one, we are going to talk about how one can Purchase and Stake LOOKS tokens.

LOOKS is the native token of one of many high NFT marketplaces, LooksRare. It’s the first community-focused market that rewards its customers at each step. For instance, you get LOOKS token rewards for itemizing, shopping for, or promoting any NFT on the platform.

However most rewards are for LOOKS token holders. They not solely get LOOKS tokens as staking rewards from the designated staking pool. However in addition they get 100% of the platform price within the type of WETH (Wrapped ETH). How cool is that!

Word: Solely staked LOOKS tokens are eligible for Staking rewards and share of Platform price on LooksRare.

Subsequently, for those who purchase and stake LOOKS tokens, then you’re eligible for double rewards. So, let’s first work out from the place you should buy LOOKS tokens.

Platforms the place you should buy LOOKS token

Following is the listing of centralized and decentralized crypto exchanges on which you should buy LOOKS tokens.

With a view to stake LOOKS token, the simplest method is to purchase it from Uniswap.

It’s also possible to purchase Appears to be like token on any of the above listed centralized exchanges, and transfer it to your Metamask or every other Web3 pockets to stake it on the official LooksRare staking web page. I’ll speak about Appears to be like token staking within the additional part of this tutorial, however for now let’s see easy methods to purchase Appears to be like token.

Methods to purchase LOOKS token on Uniswap?

Step 1 – Arrange your MetaMask Pockets

a) Go to MetaMask web site. Click on on Obtain.

b) Select the system (Browser, iOS, or Android) on which you wish to set up your MetaMask pockets. Then, click on on “Set up MetaMask.“

c) Full MetaMask set up

d) To create your pockets on Metamask, click on on “Get Began“

e) In case you have already got an current Metamask Pockets, then you may click on on “Import Pockets” and enter your Secret Restoration Phrase. Or else click on on “Create Pockets“.

f) Learn the phrases fastidiously and click on on “I Agree“

g) Enter a “Safe Password“. Agree to the “Phrases of Use” and click on on “Create“.

h) Now comes probably the most vital step of making a crypto pockets. Each pockets has a Secret Restoration Phrase, also called Seed Code, Seed Phrase, and many others.

This phrase is the gateway to your personal key and your crypto tokens. Please just be sure you don’t lose this phrase at any price. In the event you lose your Seed Code, there may be virtually no approach to get better your crypto property. You’ll lose them without end. So, do take applicable care.

Additional, it’s dangerous to notice this phrase on any digital system. In case your system will get hacked, the hacker can entry your crypto property by means of the Seed Code and steal your crypto property. This has occurred to a couple folks prior to now.

So, click on on “Reveal Secret Phrases“. Word the Seed Code in a safe offline place and click on on “Subsequent“.

i) Enter your Secret Restoration Phrase you could have simply famous down and click on on “Affirm“.

j) You’ll get affirmation of the profitable creation of your MetaMask pockets

Step 2 – Join your MetaMask pockets with Uniswap Change

a) Open the Uniswap web site and click on on “Launch App“.

b) As soon as the app is launched, then click on on “Join Pockets“.

c) You’ll get choices to decide on your pockets. Click on on the “MetaMask” pockets

d) Choose the account quantity when you have a couple of account on Metamask. Then click on on “Subsequent“.

e) Now, the app wants your permission to hook up with the pockets. Click on on “Join“.

f) As soon as related, it’s best to have the ability to see your pockets account quantity within the high proper nook.

Now we’re accomplished with two steps. We have now arrange our Metamask pockets and related it to Uniswap. The following step is to purchase LOOKS token.

Let’s perceive how you are able to do it.

Step 3 – Purchase LOOKS Tokens

a) To purchase Appears to be like token on Uniswap, you’ll want to have ETH or USDC in your Metamask pockets. Suppose you could have ETH tokens in your MetaMask pockets, and also you wish to convert these ETH tokens to LOOKS.

Click on on “Choose Token“

b) Seek for the LOOKS token within the listing. As soon as you discover LOOKS, click on on “Import” in entrance of it.

c) Click on on “Import” once more

d) Enter the variety of LOOKS or ETH you wish to swap. Primarily based on the present value, the corresponding quantity of the second Crypto asset will mechanically be calculated.

When you enter the quantity, verify your estimated fuel price and click on on “Swap“.

e) Examine the transaction particulars and Slippage Tolerance. Click on on “Affirm Swap“

As soon as the transaction is processed, your LOOKS tokens shall be transferred to your MetaMask pockets.

In case you are curious to discover Uniswap additional, you may learn our Newbie’s Information to Uniswap, or you may see the next video.

The final step that we’ll talk about on this put up is how one can stake your LOOKS tokens.

Methods to Stake LOOKS token?

Now, we have to stake our LOOKS tokens mendacity in our MetaMask pockets.

Step 1 – Open the LooksRare web site and join your MetaMask pockets

a) Open LooksRare Web site and click on on “Join“.

b) Choose the “MetaMask” pockets amongst the out there choices.

c) Enter your “MetaMask” pockets password and click on on “Unlock“.

d) Choose the account quantity when you have a couple of account on Metamask. Then click on on “Subsequent“.

e) Now, the app wants your permission to hook up with the pockets. Click on on “Join“.

Step 2 – Stake your LOOKS tokens

a) Agree to LooksRare’s Phrases of Service and click on on “Let’s Go”.

b) Click on on “Rewards” after which click on on “Staking“.

c) Enter the Quantity of LOOKS token you want to Stake. Lastly, click on on the “Stake” button

As soon as the transaction is processed, your LOOKS tokens shall be efficiently staked on the LooksRare platform. Now, you’ll be eligible to earn staking rewards in LOOKS, and additionally, you will obtain a share of the platform price. For the platform price, you may both obtain your rewards in WETH (Wrapped ETH) or LOOKS token.

Word: Ethereum community’s fuel price shall be charged each time you stake, and unstake LOOKS tokens.

Conclusion: Shopping for and Staking Appears to be like Token

So, that is how one can purchase and stake LOOKS tokens. As already mentioned, a fuel price shall be charged at each step from shopping for, staking, and unstaking of LOOKS tokens. Subsequently, you’ll want to do your cost-benefit evaluation.

Please notice that nothing written on this put up is a monetary recommendation. Please seek the advice of your monetary advisor earlier than making any monetary choice.

That’s it for in the present day. I hope this put up was useful for you. Please share your suggestions and feedback with us.

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Kalki is a seasoned content material author with over two years of expertise writing about blockchain and Cryptocurrencies. His ardour for Bitcoin and cryptocurrencies bloomed in late 2019. Crypto’s technological and financial implications are what curiosity him most.

He’s a Chartered Accountant and Lawyer with over 10 years of expertise within the FinTech trade. He likes to learn, journey and go for lengthy rides on his bullet bike.